Exim Bank expects India’s non-oil exports to grow 0.3% in October-December – Business News

Exim Bank expects India’s non-oil exports to grow 0.3% in October-December – Business News

Exim Bank expects India’s non-oil exports to grow by 0.3% to $ 68.3 billion during the October-December quarter of the current financial year.

The Export-Import Bank of India (Exim Bank) said that in the December-December quarter of 2020, total merchandise exports are projected to increase by $ 77.6 billion.

India’s non-oil exports are estimated to be $ 68.3 billion for the third quarter of FY15, with a slight positive growth of 0.3% over the same quarter of the previous year following a three-year contraction.

Exim Bank said that India’s oil exports are expected to increase in merchandise exports due to the highest sales and sustained contraction since March 2020.

The forecasts are based on Exim Bank’s Export Leading Index (ELI) model. The bank issues forecasts on a quarterly basis.

As a part of its continued research initiatives, Exim Bank has developed an in-house model for India to generate ELIs on a quarterly basis to track and forecast exports to India.

ELI forecasted the outlook for the country’s exports, Exim Bank said.

It essentially develops as a key indicator for forecasting growth in the country’s total inventories and non-oil exports, based on quarterly, multiple external and domestic factors that drive the country’s exports Can affect.

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